Crypterium - Platform and Banking in Cryptocurrency

ridwanputra (6)in #cryptocurrency • 7 years ago

Over the past decade there has been an explosion in the demand for cashless and digital payments. Global transaction volumes grew by 11.2% from 2014 to 2015 to reach 433 billion, an increase partially fuelled by Emerging Asia1

In the past 24 months this growth has been enhanced by the introduction of mobile contactless payment solutions such as Apple Pay, Google Pay, Alipay and a whole host of other innovative solutions. Between 2015-2020, mobile proximity payment volume (such as Near Field Communication (NFC) and QR codes) is expected to rise by a compound annual growth rate (CAGR) of 80 percent, which would bring mobile proximity payments volume over US$4 trillion by 20202

Similarly, the cryptoeconomy and cryptocurrencies in particular are growing at a phenomenal rate. It is estimated that by 2020 the cryptoeconomy will exceed three trillion dollars3 and that by 2022 it could be equal to 10% of world GDP4

Only time will tell whether these predictions are correct, but what is certain is that cryptocurrencies have passed their point of no return. They are here to stay, and their importance will only increase.

What is Crypterium ?
The Crypterium Cryptobank will be a first step in satisfying this demand. It will be made available for download via the IOS or android marketplace and is planning to be ready-to-use on mobile devices immediately. Unlike conventional mobile banks that take weeks to process and issue cards, the Crypterium Cryptobank provides an instant processing engine for both fiat and crypto based currency transactions while enabling inter-changeability between the two. With Crypterium's digital bank customers will finally be able to use cryptocurrencies to pay for fiat based goods without transaction limits and with low commission on any of the world’s existing 42 million payment terminals and many internet stores and payment points. Crypterium's technology platform is developing to be based on algorithms that allow for the most efficient exchange rates matching across natural peer-to-peer flow as well as third party Crypto-exchanges. This is planned to be quickly followed by a range of complimentary banking services from simple Peer to Peer payments to Cryptocurrency backed lending.

A Brand New Cryptocurrency
Crypterium will take full advantage of this global contactless phenomenon, but instead of using it for traditional payment cards using fiat currencies, we will use it for cryptocurrencies through personal smartphones. We can skip generations of dedicated development by some of the biggest companies in the world, and adapt that technology to the Cryptocurrency Era within months, or years, but definitely, not decades.

We anticipate that soon practically any cryptocurrency can be instantaneously transferred into any local fiat currency anywhere in the world where cashless payments through contactless payments terminals are possible and in turn can be spent. This will be done quicker, cheaper and safer than any fiat currency bank has ever been able to achieve. For the retailer, they are none-the-wiser. As far as they are concerned, they were paid in their currency of choice.

It is just a small step from cashless Cryptocurrency payments to additional banking services, such as cross border transactions and eventually Cryptocurrency based loans.

Crypterium is aimed on commence operations by delivering one of the best Cryptocurrency mobile banking payment application available today. As adoption increases, additional services are intended to be added.

ICO
Over the past 5 years, the team at Crypterium has been building the platform on which its cryptobanking services will be launched. The next stage in our development will be the release of a cryptobanking payment platform that will in turn will its own cryptocurrency - CRPT, to feed the transactional process. This platform will be ready for the release at the end of Q4 2017 - early Q1 2018, and we aimed on developing it in future. This Whitepaper highlights the key stages and features of Crypterium payment solution and the future trajectories in which our products will be developed.

In advance of their use within the Crypterium cryptocurrency bank, Crypterium is offering pre- payment of the CRPT token. Crypterium allow for pre-payment up to 210 000 000 CRPT tokens at the

initial market value of 0.0001 Bitcoin per CRPT. Further details of the ICO and the potential benefits of CRPT ownership are provided in this Whitepaper. The binding terms and provision of CRPT Token Sale will be outlined in the Terms & Conditions provided at https://crypterium.io/ (the “Website”).

Team
Crypterium’s management team is made up of highly experienced digital payment professionals from some of the most innovative FinTech sectors in Europe, who have spent the better part of 10 years developing digital payment and banking solutions. This team is supported by experienced financial professionals and experienced C-level executives who have developed worldwide.

When combined, the team has attracted more than $50m of investment into fintech projects they have been responsible for creating and developing, including PayQR (Russia’s leading independent contactless payment platform – see further comment below), Workle (a digital sales platform that has over 1.5m independent users selling everything from credit cards to security alarms) and Bonus Club (a digital loyalty program that is integrated inside leading publishers’ web sites).